Vietnam Yet To Agree On Expansion Plan For First Oil Refinery

By StoxPlus, August 5th, 2013

The state-run Vietnam National Oil and Gas Group or PetroVietnam (PVN), the investor of Dung Quat refinery, and Binh Son Refining and Petrochemical Company (BSR), the operator of the plant, have not yet reached any consensus on the expansion of the country’s first oil refinery.

BSR Chairman Nguyen Hoai Giang said at a conference on August 1 that the expansion, together with the finding of other sources of crude oil to feed the refinery are very urgent tasks to ensure national energy security as the output at the biggest Bach Ho field is declining.

Mr. Giang warned that if the upgrade is not carried out in the next two or three years, the plant may face operation suspension or have operation scaled down, thus deteriorating the quality of its machines and equipment.

PVN General Director Do Van Hau however said that it is not necessary to expand the refinery now as local fields can still meet 80%-90% of its crude oil demand.


Comments are closed.

%d bloggers like this: